$ZEC #
Zcash (ZEC) is a cryptocurrency that prioritizes privacy and anonymity for its users. Here are some key details about Zcash:
Privacy Protocol: Zcash uses a privacy protocol called zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). This protocol allows transactions to be fully encrypted and verified without revealing any information about the sender, receiver, or transaction amount.
Transparent and Shielded Transactions: Zcash offers two types of transactions: transparent and shielded. Transparent transactions operate similarly to Bitcoin, where transaction details are publicly visible on the blockchain. Shielded transactions, on the other hand, utilize zk-SNARKs to keep transaction details confidential.
Total Supply: Like Bitcoin, Zcash has a fixed supply cap. The total supply of Zcash is capped at 21 million coins, similar to Bitcoin's cap.
Genesis Block: Zcash was launched on October 28, 2016. The first block mined on the Zcash blockchain is known as the "Genesis Block."
Mining Algorithm: Zcash initially used the Equihash mining algorithm, which was ASIC-resistant to promote more decentralized mining. However, as of 2020, Zcash has transitioned to the Equihash-based Proof-of-Work (PoW) mining algorithm called Equihash-144_5, which remains ASIC-resistant.
Development Team: Zcash was developed by the Electric Coin Company (ECC), formerly known as the Zerocoin Electric Coin Company. The ECC continues to contribute to the development and maintenance of the Zcash protocol.
Governance and Funding: Zcash has a unique funding mechanism called the "Founder's Reward." This mechanism allocates a portion of the mining rewards to the founders, investors, advisors, and the Electric Coin Company. This was designed to fund ongoing development and support of the project.
Adoption and Use Cases: Zcash is used for various purposes, including private transactions, store of value, and as a medium of exchange. It has gained adoption on cryptocurrency exchanges and is accepted by some merchants and service providers#bitcoinhalving
